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government is going over the fiscal cliff, even as senate republicans and the white house reported progress had been made, but house republicans say they will not vote on anything tonight. good evening. i'm judy woodruff. >> suarez: and i'm ray suarez. on the newshour tonight, we have the latest on today's developments, including an update from todd zwillich of public radio international who's been tracking the story on the hill. >> woodruff: then, as secretary of state hillary clinton is hospitalized with a blood clot, we examine their causes and possible treatments. >> suarez: margaret warner talks to jonathan martin and glenn thrush of politico. their new e-book focuses on the crucial final month of the presidential race between barack obama and mitt romney. test. >> barack obama didn't perform that well until late and romney didn't perform the campaign well. campaign management is more important than an individual candidate's performance. >> woodruff: from boston, hari sreenivasan reports on a city- wide effort to keep kids engaged in education through meaningful work experiences. >> we
government is going over the fiscal cliff, even as senate republicans and the white house reported progress had been made, but house republicans say they will not vote on anything tonight. good evening. i'm judy woodruff. >> suarez: and i'm ray suarez. on the newshour tonight, we have the latest on today's developments, including an update from todd zwillich of public radio international who's been tracking the story on the hill. >> woodruff: then, as secretary of state hillary...
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that is a clear signal that republicans in the house are taking us right over the fiscal cliff. i wished the entire republican caucus was as reasonable as the colleague of mine and friend who is standing right next to me who is a very conservative republican but a very practical common sense republican. if his colleagues would listen to him, we would be in decent shape here. right now the problem in the republican caucus and the house is compromise has bng a dirty word. as you indicated there things in this bill that i don't like. there are things in this bill that i don't like. but i recognize that none of us get to have things 100% of our way. and the difference between divided government and dysfunctional government is a willingness to compromise. and compromise is in very short supply today in the house republican caucus. >> suarez: representative van hollen you heard your colleague tom cole talk about deep misgivings inside the republican caucus. aren't there members of your party who are not overjoyed with what came out of the senate last night? where the dividing lines am
that is a clear signal that republicans in the house are taking us right over the fiscal cliff. i wished the entire republican caucus was as reasonable as the colleague of mine and friend who is standing right next to me who is a very conservative republican but a very practical common sense republican. if his colleagues would listen to him, we would be in decent shape here. right now the problem in the republican caucus and the house is compromise has bng a dirty word. as you indicated there...
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all will be affected if we allow the fiscal cliff to happen. >> reporter: taxes and cuts bring governor o'malley and a bipartisan group of governors to washington to offer their thoughts on the fiscal cliff, urging republicans and democrats to work together to avoid automatic increases and spending cuts set for the end of the year. in baltimore, a group of demonstrators outside the social security office made their feelings known, urging a resolution that does not include cuts in social security jobs and services. >> we're concerned about the cuts in social security. and we would like to see them change. and we don't want to see our public hurt in any way. we want to serve public every day. >> you don't take money out of people's hands when you're trying to promote jobs. >> this is not a crime to cut back. >> for maryland, there's more than associate security cuts at stake. overall, maryland has 300,000 direct jobs and another 230,000 contracting jobs supported by the federal government. >> maryland has the fourth highest number of government- related jobs in the country. i'm pat warren
all will be affected if we allow the fiscal cliff to happen. >> reporter: taxes and cuts bring governor o'malley and a bipartisan group of governors to washington to offer their thoughts on the fiscal cliff, urging republicans and democrats to work together to avoid automatic increases and spending cuts set for the end of the year. in baltimore, a group of demonstrators outside the social security office made their feelings known, urging a resolution that does not include cuts in social...
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the administration says it's absolutely ready to go over the fiscal cliff unless republicans agree to tax increases. reports from major garrett and chip reid. elaine quijano on a new study that could lead to a major change in treatment for breast cancer. >> recurrence is something you live with for your entire life. >> pelley: a household name in computers is wanted in a murder investigation. bob orr reports he was tracked down by the technology he lived by. and we note two milestones: an eyewitness to this moment in history has died. then anthony mason will take five to remember dave brubeck, a giant of jazz. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, they've never said it quite like this: the president's treasury secretary made i
the administration says it's absolutely ready to go over the fiscal cliff unless republicans agree to tax increases. reports from major garrett and chip reid. elaine quijano on a new study that could lead to a major change in treatment for breast cancer. >> recurrence is something you live with for your entire life. >> pelley: a household name in computers is wanted in a murder investigation. bob orr reports he was tracked down by the technology he lived by. and we note two...
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could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice president, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with
could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go...
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Dec 18, 2012
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fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1st. >> our plan b would protect american taxpayers who make a million dollars or less. >> the president initially insisted on letting tax cuts expire for households making $250,000 or more, but the new white house counter proposal raises that threshold to $400,000, and for the first time the president is willing to accept some reduction in future cost of living benefit increases for social security recipients. >> in addition to his negotiations with the president, boehner has another challenge, convincing gop conservatives to accept any increases in income taxes. many republicans believe tax increases will hurt small businesses. pedro alfonso owns a company that installs voice and da that network. he's willing to pay his share of higher taxes if he gets something in return. >> there has to be a reform in entitlement. there has to be a reduct
fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1st. >> our plan b would protect american taxpayers who make a million dollars or less. >> the president initially insisted on letting tax cuts expire for households making $250,000 or more, but the new white house counter proposal raises that threshold to $400,000, and for the first time the president is willing to...
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Dec 29, 2012
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he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting you have done, do you think we are better off with a bad deal than no deal at all? >> you know susie when peopletalk about bad deal or no deal they are talking about a bad deal in political terms. frankly it's republicans that are most worried about the bad deal they have most leverage. the president has the most leverage. they are worried about a bad deal. any deal that gets us past the fiscal cliff is going to be seen
he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of...
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Feb 26, 2013
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republicans say they'd raise taxes in the fiscal cliff deal in january. >> mr. president, you got your tax increase. it's time to cut spending here in washington. >> reporter: there seems to be a willingness on the part of some republicans to let the cuts happen, figuring since they're phased in over several months the impact won't be as severe as the president suggests. the president said at a meeting monday that budget cuts are already being felt. >> companies are preparing layoff notices. families are preparing to cut back on expenses. >> reporter: some republican governors aren't buying it. >> i think it is possible to cut less than 3% of the federal budget without causing devastating consequences. >> reporter: they say the president is using scare tactics. one republican, senator graham of south carolina, said he is open to raising tax revenue if the president is open to overhauling the big entitlement programs. but most republicans here on capitol hill, anne-marie, say they are done raising taxes. >> susan mcginnis in washington. thank you. >>> on tonight'
republicans say they'd raise taxes in the fiscal cliff deal in january. >> mr. president, you got your tax increase. it's time to cut spending here in washington. >> reporter: there seems to be a willingness on the part of some republicans to let the cuts happen, figuring since they're phased in over several months the impact won't be as severe as the president suggests. the president said at a meeting monday that budget cuts are already being felt. >> companies are preparing...
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. >> house speaker john boehner met with republicans this morning to discuss fiscal cliff proposal. also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1st. >> our plan b would protect american taxpayers who make a million dollars or less. >> the white house quickly rejected the back up proposal. >> the plan b that's been put out there achieves nothing. lose hundreds of billions of dollars of revenue. >> the president initially insisted on letting tax cuts expire for households making $250,000 or more. the new counter proposal raises that to $400,000. and for the first time, the president is willing to accept some reduction in future cost of living benefit increases for social security recipients. >> in addition to negotiations with the president, john boehner has another challenge convincing gop conservatives to accept any increases in income taxes. >> many republicans believe tax increases will hurt small businesses. pedro owns a company that installs voice and data networks. he's willing to pay highe
. >> house speaker john boehner met with republicans this morning to discuss fiscal cliff proposal. also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1st. >> our plan b would protect american taxpayers who make a million dollars or less. >> the white house quickly rejected the back up proposal. >> the plan b that's been put out there achieves nothing. lose hundreds of billions of dollars...
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Feb 26, 2013
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republicans agreed to raise taxes in the fiscal cliff deal last month, and they say that's enough. they're also criticizing the president for taking his message on the road. >> he's traveled over 5,000 miles the last two weeks, and we challenge him, mr. president travel a mile and a half up here to capital hill. >> business owners like pedro alfonso say it's easy for congress and the white house to criticize each other. they're not the ones facing layoffs and pay cuts. in washington danielle nottingham wjz eyewitness news. >>> up a pew research poll shows more than 6 out of 10 americans think it will have a negative effect on the economy. >>> marylanders are reaching for their rain gear. taking a live look outside right now where we're already seeing overcast skies out there, and later on we're expecting rain and lots of it. marty is in the outback. i hope you have your umbrella, meteorologist bernadette woods tracking the storm on live doppler radar. let's start with bern. >> this is what we've got going on. out west this is starting as a mix. that cold air is trapped in the valle
republicans agreed to raise taxes in the fiscal cliff deal last month, and they say that's enough. they're also criticizing the president for taking his message on the road. >> he's traveled over 5,000 miles the last two weeks, and we challenge him, mr. president travel a mile and a half up here to capital hill. >> business owners like pedro alfonso say it's easy for congress and the white house to criticize each other. they're not the ones facing layoffs and pay cuts. in washington...
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taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no prospect for an agreement that doesn't involve those tax rates going up. remember, it's 2%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long weekend, not to return till tuesday. this as the impasse here on capitol hill continues and the nation waits. social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at the end of the year as part of the fiscal cliff. >> we don't want to see our public hurt in any
taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no prospect for an agreement that doesn't involve those tax rates going up. remember, it's 2%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal...
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Feb 26, 2013
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house speaker john bane they are afternoon said republicans raised taxes in the fiscal cliff deal and will not again to avoid the automatic budget cuts known as the sequester. >> the president says we have to have another tax increase in order avoid the sequester. well mr. president you got your tax increase. it's time to cut spending here in washington. >> reporter: irritation with ever more frequent budget showdowns is growing and none of the key players are talking to each other. there's every indication that washington's string of dramatic 11th hour compromises will soon be broken. >> pelley: major, thank you. we thought you'd like to see how much of a cut all of this really is. the whole federal budget is more than $3.5 trillion. the budget cut that would start on friday is $85 billion so that's a cut of 2.4% of the budget. but a lot of big programs such as social security are exempt from the cuts so the cuts will be focused in this way: defense will be cut back 7.7% and most other programs will be cut 5.2%. here's the trouble: the law does not allow bureaucrats to decide where t
house speaker john bane they are afternoon said republicans raised taxes in the fiscal cliff deal and will not again to avoid the automatic budget cuts known as the sequester. >> the president says we have to have another tax increase in order avoid the sequester. well mr. president you got your tax increase. it's time to cut spending here in washington. >> reporter: irritation with ever more frequent budget showdowns is growing and none of the key players are talking to each other....
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republicans say they raised taxes in the fiscal cliff deal in january. >> mr. president you got your tax increase. it's time to cut spending here in washington. >> there seems seems to be a willingness on the part of some republicans to let the cuts happen figuring since they're phased in over several months the impact won't be as severe as the president suggests. >> the president said during a meeting of the nation's governors monday the budget cuts are already being felt. >> companies are preparing layoff notices. families are preparing to cut back on expenses. >> but some republican governors aren't buying it. >> i think it is possible to cut less than 3% of the federal budget without causing devastating consequences. >> they say the president is using scare tactics. >> in washington susan mcginnis wjz eyewitness news. >> senate democrats and republicans are expected to introduce separate bills in the coming days to try and avoid the budget cuts. both bills seem unlikely to pass. republicans say they waiting on the senate. >>> breaking news out of egypt, a h
republicans say they raised taxes in the fiscal cliff deal in january. >> mr. president you got your tax increase. it's time to cut spending here in washington. >> there seems seems to be a willingness on the part of some republicans to let the cuts happen figuring since they're phased in over several months the impact won't be as severe as the president suggests. >> the president said during a meeting of the nation's governors monday the budget cuts are already being felt....
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Dec 18, 2012
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fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1. >> our plan b would protect american taxpayers who make a $1 million or less. >> the white house quickly rejected boehner's back-up proposal. >> the plan that's been put out there achieves nothing. you would lose hundreds of billions of dollars of revenue. >> reporter: the president initially insisted on lets tax cuts expire for household making $250,000 or more. but the now white house count he proposal raises that threshold to $400,000. and for the first time the president is willing to accept some reduction in future cost of living benefit increases for social security recipients. in addition to his negotiations with the president, boehner has another challenge. convincing gop consecutives to accept any increases in income taxes. many republicans believe tax increases will hurt small businesses. paige or fanso owns a company that instal
fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1. >> our plan b would protect american taxpayers who make a $1 million or less. >> the white house quickly rejected boehner's back-up proposal. >> the plan that's been put out there achieves nothing. you would lose hundreds of billions of dollars of revenue. >> reporter: the president initially insisted...
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obama's fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1. >> our plan b would protect the american taxpayers who make a $1 million or less. >> reporter: the white house quickly rejected boehner's back-up proposal. >> the fall back so-called plan b that has been put out there is, you know, achieves nothing. you would lose hundreds of billions of dollars of revenue. >> reporter: the president initially insisted on letting tax cuts expire for households making $250,000 or more. but the new white house counter proposal raises that threshold to $400,000. and for the first time the president is willing to accept some reduction in future cost of living benefit increases for social security recipients. in addition to his negotiations with the president, boehner has another challenge. convincing gop conservatives to accept any increases in income taxes. many republicans believe tax increases will hurt sma
obama's fiscal cliff proposal. the speaker also began work on a so-called plan b to prevent a tax increase in case he does not reach a deal with the white house before january 1. >> our plan b would protect the american taxpayers who make a $1 million or less. >> reporter: the white house quickly rejected boehner's back-up proposal. >> the fall back so-called plan b that has been put out there is, you know, achieves nothing. you would lose hundreds of billions of dollars of...
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cliff, there was another, a different spending spat that divided the republican party. house republican leaders refused to take up an aid package for vsms hurricane sandy which the president called for and the senate had approved elderlier. from the moment the house convened today, bi-partisan anger filled the chamber. lawmakers from new york, new jersey and connecticut said the failure to vote on hurricane "sandy" aid was a betrayal. >> we cannot believe that this cruel knife in the back was delivered to our region. >> they said you are on your own. my friends, our people cannot be on their own. >> woodruff: the senate approved a $60 billion storm recovery measure last friday. house leaders had been considering a pared-down version, when speaker john boehner pulled the bill last night. a number of republicans had insisted on offsetting spending cuts. but boehner's decision was lambasted by new jersey's republican governor chris christie, who charged storm victims have already waited too long. >> america deserves better than just another example of a government that has
cliff, there was another, a different spending spat that divided the republican party. house republican leaders refused to take up an aid package for vsms hurricane sandy which the president called for and the senate had approved elderlier. from the moment the house convened today, bi-partisan anger filled the chamber. lawmakers from new york, new jersey and connecticut said the failure to vote on hurricane "sandy" aid was a betrayal. >> we cannot believe that this cruel knife...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'sers.e.c.geithner's comments about going over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence...
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republicans promised to raise taxes in the fiscal cliff last month. and they say that's enough. in washington, danielle nottingham, wjz eyewitness news. >>> now, a research poll shows six out of 10 americans think the cut will have a negative effect on the economy. >>> voters enter the polls in chicago to reformer congressman jesse jackson, jr. the primary comes three months after jackson resigned, after being treated for a bipolar disorder. he pled guilty last week to misusing campaign money. he could face up to five years in prison when he is sentenced. >>> turnout is low. rain is starting to arrive. and it's going to be sticking around for a while. but sea gulls at fort mchenry don't seem to mind very much, the wet conditions. trust me. they're out there somewhere at fort mchenry. the sea gulls we're talking about. wjz has weather and traffic together. bob is here with the updated numbers from first warning weather. >> i think the sea gulls may be in chicago now. we missed them. luckily, no heavy rain. no flood watches anymore. take a look at radar. we had batches of rain mov
republicans promised to raise taxes in the fiscal cliff last month. and they say that's enough. in washington, danielle nottingham, wjz eyewitness news. >>> now, a research poll shows six out of 10 americans think the cut will have a negative effect on the economy. >>> voters enter the polls in chicago to reformer congressman jesse jackson, jr. the primary comes three months after jackson resigned, after being treated for a bipolar disorder. he pled guilty last week to...
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. >> >> fiscal cliff talks, without a deal, automatic tax hikes and spending cuts would kick in january 1st, affecting almost all americans. democrats and republicans insist they are committed to reaching a deal. congress returning to washington the day after christmas. senator from hawaii, laid to rest. president obama and the first lady attended the memorial service. he was the first japanese american elected to both houses of congress and the second largest serving u.s. senator. he was 88 years old. >> back here in maryland a police shooting in baltimore county, a police officer opened fire, killing a man who had a knife. that's where derrick is tonight with the details. >> reporter: police say the officer was acting in self- defense when he confronted and shot a suspicious man he found back here behind this gas station. it all started with an officer on routine patrol as he passed the shell gas station at ed monton around 3:45 in the morning. he noticed a suspicious man behind the building. police say when the officer asked the man to come out from behind the building, the man pulle
. >> >> fiscal cliff talks, without a deal, automatic tax hikes and spending cuts would kick in january 1st, affecting almost all americans. democrats and republicans insist they are committed to reaching a deal. congress returning to washington the day after christmas. senator from hawaii, laid to rest. president obama and the first lady attended the memorial service. he was the first japanese american elected to both houses of congress and the second largest serving u.s. senator....
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cliff and plummeting off. and left to their own votes the republicans rejected it. it was passed only because the democrats. and then after that we had the vote on hurricane sandy. and the people of new york and new jersey and new england who were devastated by it to get the same kind of treatment that the people who suffered from cat in-- katrina did. left to republican votes and john boehner's best efforts have failed in the house of representatives. democrats passed it. both cases democrats were the key. >> i thinks that-- these are exceptional cases. in the years ahead the republicans discover they can't govern controlling the house. the democrats are going to discover they can't get much done unless they control the house. and i think in general the general pattern is they both lost a lot of -- >> here we are the friday before the secretary inauguration, second term so we're talking about president's actions this week. how he is positioning himself, what do you see in that? for the secretary term? >> i th
cliff and plummeting off. and left to their own votes the republicans rejected it. it was passed only because the democrats. and then after that we had the vote on hurricane sandy. and the people of new york and new jersey and new england who were devastated by it to get the same kind of treatment that the people who suffered from cat in-- katrina did. left to republican votes and john boehner's best efforts have failed in the house of representatives. democrats passed it. both cases democrats...
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cliff. economists have warned the one-two punch could push the fragile economy back into a recession at the start of 2013. the republican senate leader mitch mcconnell. >> what the democrats are proposing today is an entirely avoidable high-stakes game of chicken. >> reporter: the two sides took this fight to the brink the last time the bush tax cuts were set to expire, in december of 2010. >> we just don't see why we have to give an extra tax cut to the wealthiest and then an extra-extra estate tax benefit to the top one quarter percent. >> reporter: democrats lost that battle. but this time they sense weakness in the g.o.p. with more than half of the most competitive republican house candidates declining to sign a pledge that vows never to raise taxes. republican scott ridgel of virginia signed that pledge two years ago but recently rejected it:. >> i am saying that expenses must come down sharply to historic levels. revenue, too, must rise to historic levels. >> reporter: do you think tha
cliff. economists have warned the one-two punch could push the fragile economy back into a recession at the start of 2013. the republican senate leader mitch mcconnell. >> what the democrats are proposing today is an entirely avoidable high-stakes game of chicken. >> reporter: the two sides took this fight to the brink the last time the bush tax cuts were set to expire, in december of 2010. >> we just don't see why we have to give an extra tax cut to the wealthiest and then an...
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. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan shenecki. so much so that he's the guy in the suit, dancing gangnam style with former senator allen simpson. >> i'm keeping up on this baby. >> reporter:
. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes...
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immigration reform, once they get through the fiscal cliff by all wantch objects there could be movement on that in the new year. >> schieffer: all right. we're going to take a break right here and when we come back we'll talk about all this and some other stuff going on in washington. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >> schieffer: we're back now with our panel. joe klein let's get back to something else that happened this week in the senate that shows this is kind of a different place than it once was and i talked about this in my commentary. this is turning down the treato disabilities wh
immigration reform, once they get through the fiscal cliff by all wantch objects there could be movement on that in the new year. >> schieffer: all right. we're going to take a break right here and when we come back we'll talk about all this and some other stuff going on in washington. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core building blocks...
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back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm willing to find ways to bring down the cost of health care without hurting seniors and other americans who depend on it. and i'm willing to make more entitlement spendings cuts on top of the $1 trillion in spending cuts i signed into law last year. >> reporter: his remarks came one day after house speaker john boehner announced the talkes were stalled. >> well, this isn't a progress report because there's no progress to be report. >> reporter: his democratic counter-part ploals blamed boehner for the stalemate. >> what they offered in return was an empty letter lacking in specifics. >> reporter: such is the
back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm...
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cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like educati
cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60...
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. >> brown: the final weekend has now arrived before the fiscal cliff hits on new year's day and with it, more than $600 million in tax hikes and spending cuts. in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an
. >> brown: the final weekend has now arrived before the fiscal cliff hits on new year's day and with it, more than $600 million in tax hikes and spending cuts. in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was...
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. >>> there is progress to report on fiscal cliff negotiations. two weeks from today, the painful series of spending cuts and tax increases will automatically go into effect if washington can't come up with a budget deal. late monday, though, we learned congressional republicans and the president are narrowing the gap in their differences. tara mergener is in washington with the latest. good morning to you. >> reporter: good morning to you, terrell. well, raising taxes on the wealthy is the biggest issue during these negotiations. but this morning, it appears both sides are giving ground. allowing the bush-era tax cuts to expire on couples' income over $250,000 was a cornerstone of president obama's re-election campaign. but he's reportedly backing off those demands. in his latest offer to republicans, the president is seeking to raise rates on incomes over $400,000 for couples. his offer also includes a reduction in future cost of living increases for social security recipients. and he's dropping his proposal to extend the payroll tax cut. if tha
. >>> there is progress to report on fiscal cliff negotiations. two weeks from today, the painful series of spending cuts and tax increases will automatically go into effect if washington can't come up with a budget deal. late monday, though, we learned congressional republicans and the president are narrowing the gap in their differences. tara mergener is in washington with the latest. good morning to you. >> reporter: good morning to you, terrell. well, raising taxes on the...
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. >> suarez: such events happened last december during the fiscal cliff negotiations. when president obama visited a family in northern virginia to prod congress to act. his republican opponent complained about the strategy saying the president is more focused on talk than on action. this was senate minority leader mitch mcconnell two weeks ago. >> well i'd suggest that one thing the american people don't want is a permanent campaign. the that's the last thing the american people are looking for is a permanent campaign. they want us to work together on solutions to our problems and deficits and debt are right at the top of the list. so i'd like to suggest this morning that the president rethink the adversarial tone he's adopted in recent weeks. >> brown: but the white house is pressing ahead. today's event took place at the same time a top republican-- house majority leader eric cantor-- was giving his own major policy speech. and a far greater audience beckons as the president addresses americans next week in his annual state of the union address. we have more on pres
. >> suarez: such events happened last december during the fiscal cliff negotiations. when president obama visited a family in northern virginia to prod congress to act. his republican opponent complained about the strategy saying the president is more focused on talk than on action. this was senate minority leader mitch mcconnell two weeks ago. >> well i'd suggest that one thing the american people don't want is a permanent campaign. the that's the last thing the american people...
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will let us go over this so-called fiscal cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor observer, was quoted as saying if we were in a parliamentary system, what happened to speaker boehner would have been viewed as a vote of no confidence. do you think speaker boehner ought to step aside and let somebody else try to get this done? >> speaker boehner will be the speaker next year, without any question. the onus right now is on senator reid and the president to come up with a solution, make it a piece of legislation pass it through the senate, present it to the house and let's get back to the bargaining table. the american people deserve for both houses to do something and ask the president to sign it. >> schieffer: wel
will let us go over this so-called fiscal cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor observer, was quoted as saying if we were in a parliamentary system, what...
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. >>> the other big issue on capitol hill the fiscal cliff. president obama and congress are are home -- are home now for christmas. automatic tax hikes and spending cuts will kick in january 1st. democrats and republicans insist they are still committed to reaching a deal with the house speaker vowing to return to washington the day after christmas. >>> more than 1,000 people attend the memorial service for the late hawaii senator daniel enoway. he was the first japanese american elected to congress. he spent 50 years in washington serving the people of hawaii. he died last week. he was 8 8. >>> this morning an investigation is underway after a baltimore county police officer opens fire, killing a man who they say was pointing a knife at him. mike schuh is live with more on what happened. good morning, mike. >> reporter: good morning. county police say that their officer stopped a man behind this gas station and what happened next is up for investigation. >> the officer on routine patrol passes this shell station around 3:45 in the morning. b
. >>> the other big issue on capitol hill the fiscal cliff. president obama and congress are are home -- are home now for christmas. automatic tax hikes and spending cuts will kick in january 1st. democrats and republicans insist they are still committed to reaching a deal with the house speaker vowing to return to washington the day after christmas. >>> more than 1,000 people attend the memorial service for the late hawaii senator daniel enoway. he was the first japanese...
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. >> reporter: the president sees the fiscal cliff showdown as an opportunity to break that linkage for good. republicans say they will not increase the debt ceiling now $16 trillion and due to expire in february without more deficit reduction. >> history shows the only major deficit cutting deals we ever do around here, ever comes after debates over the debt ceiling. it may be a good idea if you don't care about the debt but it's a non-starter for those of us who do. >> reporter: public opinion generally is on the president's side, but republicans in the house are not paralyzed or perilous, more unified behind speaker boehner than a year ago. why is this important? the white house is beginning to notice and now believe there is a deal boehner can find the stroets pass it. >> an idea what's really at stake. rebecca jarvis has a look how the government spends money and how it could spend less. rebecca rebecca, good morning. >> reporter: good morning. >> the question comes up in terms of the money that we're talking about in raising the rate. how much is it that the republicans are object
. >> reporter: the president sees the fiscal cliff showdown as an opportunity to break that linkage for good. republicans say they will not increase the debt ceiling now $16 trillion and due to expire in february without more deficit reduction. >> history shows the only major deficit cutting deals we ever do around here, ever comes after debates over the debt ceiling. it may be a good idea if you don't care about the debt but it's a non-starter for those of us who do. >>...
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raised taxes on the fiscal cliff deal, lighten up on that, put taxes on the table or loophole tolz get this result. >> before we approach this transportation bill this session, we had major spending cuts. we've had other tax decreases. we've done a lot of things to get us to be a very competitive state for job creation, economic development. but we had a different approach when it came to infrastructure. what i would say-- and governor o'malley and i agree and we're work together to make sure we don't have the defense industry hurt this badly and 200,000 jobs from my state over 10 years. i would say you can't solve the budget crisis if you don't take on medicaid and medicare and get serious about things like simpson-bowles and actually cutting spending. i would say that's where they've got to go first. they've had 18 months. >> garrett: so no tax increases? >> the solution is up to congress. i'm saying don't put all the burdens on the states and the military. you guys figure out how to get it done glaring some of the things the administration has said would be fewer border patrol agent
raised taxes on the fiscal cliff deal, lighten up on that, put taxes on the table or loophole tolz get this result. >> before we approach this transportation bill this session, we had major spending cuts. we've had other tax decreases. we've done a lot of things to get us to be a very competitive state for job creation, economic development. but we had a different approach when it came to infrastructure. what i would say-- and governor o'malley and i agree and we're work together to make...
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cliff legislation. and, president obama, on vacation in hawaii, signed the bill into law on wednesday. on the senate floor today republican minority leader mitch mcconnell, took note of the week's events. >> i'd like to welcome everybody back after what i realize was a somewhat abbreviated recess. >> woodruff: mcconnell's minority will be smaller still in the new senate. democrats now have 53 seats to 45 republicans and two independents will caucus with the democrats. in all, there are 12 newly elected senators: eight democrats, three republicans and one independent, angus king of maine. and five women won seats bringing the total to 20-- the most ever. some other notables: tammy baldwin of wisconsin, the first openly gay person elected to the senate. and mazie hirono of hawaii, the first asian american woman. both are democrats. on the republican side, ted cruz of texas becomes just the third senator of hispanic heritage. and tim scott of south carolina- - appointed to fill the seat vacated by jim demi
cliff legislation. and, president obama, on vacation in hawaii, signed the bill into law on wednesday. on the senate floor today republican minority leader mitch mcconnell, took note of the week's events. >> i'd like to welcome everybody back after what i realize was a somewhat abbreviated recess. >> woodruff: mcconnell's minority will be smaller still in the new senate. democrats now have 53 seats to 45 republicans and two independents will caucus with the democrats. in all, there...
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. >>> and now we look at the fiscal cliff, and there are new sign that both sides are closer to a deal with 14 days left until the deadline. a new cbs news poll shows 51% of republican voters favor higher taxes on families earning more than $200,000 a year. 60% of democratic voters say they're not ready to go along with cutting government programs. monday the obama administration made a new counteroffer to republican leaders, and major garrett is at the white house. and major, good morning. we knew -- >> good morning. >> we knew the president and the speaker had this hour long meeting. what came out of it? >> reporter: we'll talk about the timing. this week really could be the week, and there are officials i've talked to who would not be surprised if some sort of announcement of a deal could happen as early as tomorrow. what are some of the concessions president obama made? he made two big ones. historically he's always said he wanted to raise income tax rates on incomes $250,000 or higher. now he's willing to raise the income to $400,000. he made another concession, telling republican
. >>> and now we look at the fiscal cliff, and there are new sign that both sides are closer to a deal with 14 days left until the deadline. a new cbs news poll shows 51% of republican voters favor higher taxes on families earning more than $200,000 a year. 60% of democratic voters say they're not ready to go along with cutting government programs. monday the obama administration made a new counteroffer to republican leaders, and major garrett is at the white house. and major, good...
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if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements. >> reporter: one proposal under discussion, raging the eligibility age for medicare is not going well for some dem -- democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs. because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing healthcare costs. in washington, danielle nottingham, wjz eyewitness news. >> well, the official fiscal cliff deadline is december 31st. many on capitol hill say an agreement is needed buyer the before the end of this w
if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements....
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remember he had plan b during the fiscal cliff talks, plan this his conservatives rejected. part of it was to buy time. it's to put pressure on the president. clearly in the prs conference yesterday the president is feeling a bit of the pinch saying i'll negotiate, just not on the spisk debt limit. i'm not sure there are any mysteries here that john boehner has got in his back pocket. >> do you think we're close to a turning important? you have the university of commerce. and then you have these outrageous storying about veterans not getting their benefits. do you think something's about to change? >> i don't know. a lot of expert who say a debt limit would be disastrous some say, oh no. i think what the experts say, if you're flying in a plane, if the tail comes off, yeah, a it won't crash immediately but pry torization won't come quick. so that kind of scenario that people are talking about should put pressure on lawmakers but they're not budging much. >> all right. thank you very much john dickerson. >>> good morning. we've got gray skies in the area. temperatures in the
remember he had plan b during the fiscal cliff talks, plan this his conservatives rejected. part of it was to buy time. it's to put pressure on the president. clearly in the prs conference yesterday the president is feeling a bit of the pinch saying i'll negotiate, just not on the spisk debt limit. i'm not sure there are any mysteries here that john boehner has got in his back pocket. >> do you think we're close to a turning important? you have the university of commerce. and then you...
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if you remember the end of the year tax deal in 2012, fiscal cliff, there was more than 80 votes in the senate. what that gave john boehner was saying more than half of the senate republicans voted for this, guys, i'm putting it on the floor and i'm going to let everybody vote for it but i'm not convinced they're going to get that big vote out of the senate. the only thing that can give boehner the cover to throw it on to the floor and let democrats bring this home is if it's just the calendar. if we're starting to expire. >> given what members of congress heard from the public over the last couple of weeks t fact that they can't agree, are we more or less likely, given temporary measures, to see the same battle down the road? >> we're more likely to see the same battle. >> even though they know how the american people disapprove of this? >> this is not -- i think what's going to happen here is you're going to have a fight inside the republican party. it really has split the republican party. j john boehner has done his best to keep it from blowing up and that's why you'll see some sort
if you remember the end of the year tax deal in 2012, fiscal cliff, there was more than 80 votes in the senate. what that gave john boehner was saying more than half of the senate republicans voted for this, guys, i'm putting it on the floor and i'm going to let everybody vote for it but i'm not convinced they're going to get that big vote out of the senate. the only thing that can give boehner the cover to throw it on to the floor and let democrats bring this home is if it's just the calendar....